Business
Equinix Enters Africa, Closing the US$320 Million Acquisition of MainOne
Acquisition signals the first step in Equinix's long-term strategy to become a leading African carrier-neutral digital infrastructure company, enabling
About this update from Equinix, Inc.
[{"type":"text","content":"Acquisition signals the first step in Equinix's long-term strategy to become a leading African carrier-neutral digital infrastructure company, enabling organizations to accelerate digital transformation throughout the continent\nREDWOOD CITY, Calif., April 5, 2022 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, today announced it has completed its deal to acquire West African data center and connectivity solutions provider MainOne for an enterprise value of US$320M, marking the beginning of its expansion into the African continent.\nThe completion of this acquisition augments Equinix's long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana and Cote d'Ivoire.\nThis acquisition will extend Platform Equinix® into West Africa, giving organizations based inside and outside of Africa access to global and regional markets. Nigeria has both the largest population and the largest economy of any country in Africa, with approximately 142 million active internet subscribers.i Home to new innovative digital ecosystems in fintech and content and digital media, it has great opportunity for expansion of digital services.\nEquinix believes MainOne, headquartered in Lagos, to be one of the most exciting technology businesses to emerge from Africa, and Lagos is rapidly becoming a key connectivity hub for the wider West Africa region. Founded by Funke Opeke in 2010, the company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets, including three operational data centers, with an additional facility in Lagos expected to open in April 2022.\nFast Facts\nMainOne's assets include:Four operational data centers, which will add more than 64,000 gross square feet of space to Platform Equinix, in addition to 570,000 square feet of land for future expansions.An extensive submarine network extending 7,000 kilometers from Portugal to Lagos, Accra and along the West African coast, with landing stations in Nigeria, Ghana and Côte d'Ivoire.A terrestrial network of more than 1,200 kilometers of reliable terrestrial fiber in Lagos, Edo and Ogun States. Connectivity to terrestrial sites extends across 65 points of presence (PoPs) in ...